economy
Oil and gas prices likely to stay elevated even if there is a ceasefire in Iran
Oil and gas prices could see little to no movement in the event of an Iran ceasefire unless the Strait of Hormuz is open and proves stable, experts say, as reports of a Middle East ceasefire swirl.
TL;DR
- An Iran ceasefire may not directly impact oil prices unless it ensures the Strait of Hormuz remains open and stable.
- The stability of the Strait of Hormuz is considered the most important factor for driving down energy costs.
- Vice President JD Vance is reportedly involved in peace talks between the U.S. and Iran, acting as intermediaries with Pakistani officials.
- A proposed peace plan is reportedly being considered by both sides, with talks occurring as early as Monday.
- President Trump has set a deadline for Iran to strike a deal or face renewed attacks on its energy infrastructure.